Christine Lagarde appointed as MD of IMF for a second term current affairs

Christine Lagarde appointed as MD of IMF for a second term current affairs

The International Monetary Fund has appointed Christine Lagarde  (60) from France for a second term as managing director. Her new term will start on 5th July 2016 till 2021.The Board’s decision was taken by consensus. She was appointed as MD of IMF for first time  in 2011 after IMF Board had initiated selection process on merit-based and transparent process. She was first woman to head the top post of IMF since its inception in 1944.

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About Christine Lagarde

She holds degrees from the Institute of Political Studies (IEP) and from the Law School of Paris X University, where she had also served as lecturer, prior to joining Baker & McKenzie in 1981. Prior to her appointment at the IMF in 2011, she  had an extensive and noteworthy career as an anti-trust and labour lawyer. She had also served as the Minister of Finance and Minister for Foreign Trade of France. She served as partner with the international law firm of Baker & McKenzie where she became Chairman of the Global Executive Committee in 1999 and later became  Chairman of the Global Strategic Committee in 2004.

About International Monetary Fund (IMF)

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International Monetary Fund (IMF) is an international organization  of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Headquarters: Washington, D.C.  Formation: 27 December 1945 Managing Director of IMF: As MD of IMF, Christine Lagarde  is the chief of the IMF’s operating staff and is also Chairman of the 24-member Executive Board. She is assisted in carrying out her responsibilities by 4 Deputy MDs and about 2,700 staff from 147 countries.